Cyber risk management is about more than firewalls, disaster recovery, anti-virus and stopping high-profile hacker attacks. There are less obvious risks you may be overlooking.

1. Storage Media

Take care of your backup and storage media so it is there for you when you need it. If you have an emergency or fall victim to a hacker attack, you may need to rely on backup storage media.

2. Loss of key employee

Losing a skilled employee could leave a large gap in your organization. Managers must be prepared to deal with skills they are missing and understand that they must now manage without this critical expertise. It is also essential that all technology systems are updated so the employee can not longer access systems. Proper change management protocols must be followed. Companies that mismanage the “identity lifecycle” are operating in the dark and could be vulnerable to intrusions. You can address this risk by implementing meticulous systems to identify people, manage their permissions, and revoke them as soon as they depart.

3. Insider attacks

Cyber attacks from within the organization are usually unanticipated. A disgruntled IT employee is in a privileged position and can severely compromise a company’s information and protected assets. A data loss prevention solution can help prevent data leakage and damage from insiders.

4. Vendor security

A culture of security must extend beyond company walls, which means establishing best practices among contractors and suppliers. This includes properly vetting vendors’ security policies and procedures to ensure their cyber security preparedness.

5. Cloud security

Businesses migrating certain IT services to a cloud environment must have the tools and procedures in place to monitor and remediate possible threats. This includes managing user access, guarding data and applications against security threats and monitoring and auditing cloud usage, attack activity and compliance violations.

6. Security skills gap

As security risks become more sophisticated, the need for security expertise increases. A survey conducted by Forrester Consulting and commissioned by IBM shows that managers are partnering with IT security services providers to provide cyber security and are seeing overwhelmingly positive results. Security service providers have access to sophisticated tools to fight hackers and are continually identifying and analyzing new threats, often before they are even known by the world at large. Businesses that try to address security on their own are flying blind.

ACE IT Solutions’ Managed Security Services, offered in partnership with IBM, provide a simple and cost-effective way to limit potential threats 24×7. Through our partnership with IBM, ACE IT Solutions leverages one of the world’s largest collections of security information to combine advanced analytic capabilities into cloud-based security services that can be mixed and matched according to each business’ specific needs. Contact ACE IT Solutions for a free security health scan.

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